There are more than 200,000 companies running on-premise ERP systems from Microsoft, Sage, SAP and Acumatica world-wide and many are not planning to move to the cloud yet. However, if you are one of them, this does not mean that your company canât start taking advantage of modern cloud-based reporting solutions today to drive better and faster decisions for yourself and your management team!
Hasnât Cloud-based reporting for on-premise ERPs been available for a long time?
Yes, vendors like Prophix, Solver, Vena, Adaptive Insights, and Planful (formerly Host Analytics) have offered both cloud-based financial reporting and budgeting for years. However, all of these vendors have typical corporate performance management (CPM) architectures that require data to be loaded from the on-premise ERP and into the cloud CPM tool before the user can run reports.Â
The process requires a ârefreshâ of data from the ERP database into the CPM database which means that the data users see in reports is not real-time. This also mean that the drill-down on any number is only as detailed as the lowest level data that was loaded into the cloud CPM database.Â
Your executives are often ok with this because they want to wait on their report analysis until the accounting team has closed the books. However, the accounting team that is posting transactions in the ERP system almost always prefers live ERP reporting because they want to immediately see the impact of journal entries in their reports. They donât want to refresh data into a CPM reporting database first, and then wait one minute, ten minutes or significantly longer to run reports after the data has been transferred to the CPM tool.
How do I get true live reporting for my on-premise ERP GP data?Â Â
The obvious answer is that you use the report writer that natively comes with your ERP system such asÂ Management Reporter, GP Report Writer, Smartlist or SQL Reporting Services (SSRS). However, at best, it would be safe to say that these tools have aged âgracefully,â and they are just not comparable to many modern cloud reporting tools.
Key weaknesses of on-premise report tools include:
- Not particularly user-friendly for accounting staff to design reports.
- Lack of easy and professional formatting.
- Typically requires VPN or Terminal Server to connect to the ERP in order to run reports from outside the office network.
- Maintaining multiple report writers for different data (e.g. for formatted financial statements versus sub-ledger transaction reports).
In order to overcome these weaknesses and help on-premise ERP customers maximize the value of their data a modern, cloud-based reporting platform, Solver has now launched what they refer to as âHybrid Cloud Reporting.â You can see it live in this video. This is a unique integration technology that enables you to:
- Use your web-browser to run beautifully formatted reports (looks like Excel formatting).
- Benefit from true real-time reports on your ERP data without any data transfer to a separate reporting database.
- Drill-down from any number in the report directly into your underlying GP transactional data.Â
- Easy internet and browser-based access with no need for VPN, or software like Terminal Server.
- Enter budgets from user-friendly forms (looks like Excel) in the cloud and have the transactions stored directly into the GL budget table in the ERP database.
- Be better prepared to move to a cloud ERP later because the reporting and budgeting solution is already in the cloud.Â
In other words, now your accountants and reporting end-users get the best of two worlds by only needing a web browser to run live ERP reports and drill-down.
Below is a simple architecture diagram to explain how it works:
What about budgeting and forecasting?
Like many other cloud-based CPM solutions, Solver also offers budgeting and forecasting. With the new Hybrid Cloud technology and Solverâs cloud-based Planning Module, users can store budget data directly back from Solverâs budget forms in the cloud, into the General Ledger budget table in the ERP database.Â
So, if you struggle with manual Excel-based spreadsheets for your budgets, you can save a lot of time by eliminating emailing files between users, linking between spreadsheets, and put better controls in place for the entire budget process with workflow and approvals.Â
As an example, users can access budget forms like the example below with their browser and instantly, until you close the budget process, update their departmentâs budget in the ERP system. Since Solverâs Hybrid Cloud updates are real-time, reports can immediately be run to see the impact of these changes on the budget.
Enjoy Faster and Better Decisions in the 2020s
Companies like Solver, Prophix, Vena, Adaptive Insights, and Planful are driving the next generation cloud-based reporting and planning technology. However, with the lack of live reporting and live budget write-back to on-premise ERP systems, accountants and very active ERP users have been left with their legacy tools for their real-time reporting needs.Â Â
With the release of Solver Hybrid Cloud, these users now get the best of both worlds and can start ushering in the 2020âs by enabling themselves and other users with faster and better decisions.Â Learn more about the benefits of choosing Solver CPM solutions by contacting us today or requesting a demo.Â
Supported ERP systems are: Microsoft Dynamics GP, SL, and NAV, Sage 100 (SQL)*, 300* and 500*, SAP Business One (SQL)*, and Acumatica*.
*) Direct budget writeback not offered for these ERPs.
LOS ANGELES, CA. â March 3, 2020Â âÂ Solver, the global leader in cloud and web-based Corporate Performance Management (CPM) for mid-market ERP systems, has been recognized by Analytics Insight Magazine as one of the Top 10 Most Influential Analytics Leaders of the Year.Â Analytics Insight Magazine selects its annual list of Influential Analytics Leaders based on who drives digital transformation, opens new ways to create business value and facilitate data-driven decision making across organizations globally.Â After another year of growth in cloud subscriptions, Solver sees this award as further acknowledgement of the Solver Cloud deploymentâs success.
As Solver continues to grow, developing its CPM solution into the most efficient, dynamic option in the mid-market space remains its primary focus.Â Solver has focused on releasing pre-built integrations directly addressing its most widely used ERP systems, including those from Microsoft Dynamics, SAP and Sage.Â With the recent release of its Hybrid Cloud Connector for Microsoft Dynamics GP with additional ERPs to follow shortly, Solver is able to offer live cloud-to-on-premise ERP reporting capability Â that makes its CPM solution even more compatible with the majority of its users.Â While the growth of Solverâs cloud platform signals its direction as a leader in CPM solutions, Solver also continues to nurture its on-premise users.Â In addition to product development, Solver has also consistently added new content to the Solver Academy eLearning portal covering the latest training content updates.Â Not only does Solver strive to provide the most innovative CPM solution to its partners and customers, but it puts equal importance on efficient support and service resources as well.
Says Solver CEO Nils Rasmussen, âTo me, the 2020s represents the most exciting decade so far for the analytics industry.Â We have incredible technology enablers like cloud and AI that the industry can take advantage of to drive innovation and process improvement for customers.âÂ He adds, âI also think leaders need to challenge the status quo in their industry and ask themselves how their organization can innovate not only to drive revenue and profit growth but to improve the lives and businesses of their customers, partners and team members.â
Solver views the Top 10 Most Influential Analytics Leaders recognition as strong continuation of its start to the new decade, where it expects even more growth for its cloud platform.
To read Solverâs feature article, click here.
With a quickly growing community of thousands of global customers and hundreds of partners worldwide, Solver provides a leading cloud Corporate Performance Management suite for Microsoft Dynamics 365 Finance and Operations and Business Central, Acumatica, SAP Business One, SAP ByDesign, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, NetSuite and other ERPs. Solver is ranked in the leader quadrant in the Corporate Performance Management (CPM) Software Grid on G2, and as a Microsoft Gold ISV Partner, Solver has won countless awards, including the Microsoft BI Partner of Year Award, recognition on the Gartner Group CPM Magic Quadrant, and Best Places to Work for a workplace culture that celebrates customer service, integrity, and innovation. Solver is sold through its 12 global offices and a
If you have surveyed an audience of mid-market accounting and finance professionals, you almost always find that 90-95% primarily rely on manual budget models in Excel. How is this possible when most enterprise resource planning (ERP) systems, including Sage Intacct, have both basic native ERP budget functionalities? In some cases, they also have specialized add-on modules. For example, the Microsoft Dynamics on-premise ERPs had the now âretiredâ Forecaster product and for Sage, it is the Sage Budgeting and Planning. Other ERP systems have built various Excel export and import mechanisms to make it easier for users to budget in Excel. Then, re-import the GL portion of the budget.
While most ERP vendorâs budget add-ons do the job better then entering budgets directly into the ERP system, there still seems to be a large group of companies that simply need a full-featured budgeting and forecasting solution to get the workflow, formula and layout flexibility they need. These solutions are typically referred to as Corporate Performance Management (CPM) tools. They also include a reporting and consolidation functionality.
How do I know if my planning process is NOT streamlined?
Typically, there are a number of key motivators when an organization begins to look for a CPM solution to improve its planning process:
- Effort spent exporting and importing data from Sage Intacct to home grown Excel budgets
- Current process is error-prone and a resource strain on the finance team
- Lack of time and resources to quickly re-forecast (for example if a virus hits the economy!)
- Lack of automation to create many budget versions
- Current tool too complex for staff to learn so ended up back with a manual Excel model
- Find that the ROI of automation with a CPM tool is higher than the cost of manual processes
Which benefits should I expect from modern CPM Planning tool?
Because Sage Intacct is a cloud-based ERP system, pretty much all customers looking for a full featured CPM solution like Solver, Adaptive Insight or Anaplan, will also expect a high degree of functionality, including:
- Cloud-based platform
- Pre-integration to Sage Intacct and Sage Intacct approval as a certified add-on vendor
- Complete workflow functionality to manage submissions, reviews and approvals of the budget
- Highly flexibly budget form design to completely replace the companyâs manual Excel models
- Strong native report writer for variance reporting and budget consolidations
- User administration and security that allow for any person to participate in the budget regardless if they are users of Sage Intacct or not
- Usability features like spreading, break-back, lien items with comments, and more.
I am planning to implement Sage Intacct. What is the best timing for budgeting tool?
Accounting teams always have a lot on their plate. Therefore, it never seems to be a great time to implement another software. However, the best time seems to be in the 2-3 months after the most recent budget cycle. Not only will issues and needs be fresh in mind, but it also allows for plenty of time to select, implement and test a new planning solution before the next budget cycle starts. Some organizations even do a âdry runâ of their new budget solution during the year for one of their forecasts.
Carefully selecting a CPM vendor is important
Turbulent Mergers & Acquisition (M&A) market
For example, when a vendor gets acquired, it usually ends less than good for customers. The most typical reason that issues arise is that acquiring companies are much larger than the target company. Therefore, politics and other internal priorities at the parent company tend to drive employees away, disturb the focus of product development, increase prices and more.
Eventually, many acquired products die slowly, and customers end up switching products and vendors. Comshare, Adaytum, SRC Software and Clarity are a few vendors that suffered this during the M&A spree that took place in the CPM space about 15-20 years ago. Over the past 3 years, another wave of M&A has happened, including Workday acquiring Adaptive Insight, a PE firm acquiring Host Analytics from its old investor, Wolters Kluwer acquired Tagetik, and PE-owned Insight Software acquiring Jet Global, Atlas, BizNet and other players in the game.
Protecting the significant financial investment
There are more CPM solutions that are cloud-based. Customers can sign up for one or more years of subscription versus having to purchase the software upfront. However, even if a subscription is reasonable, the amount of time and effort from the internal staff (often with the help of costly consultants) has to be put in to get a CPM solution fully up and running. Also the reports, budget model and dashboards that management need are very significant. You can expect anywhere from twenty thousand dollars and to several hundred and thousands of dollars in direct and indirect costs for full blown implementations. In other words, picking the right vendor and the right product carries a much larger costs than simply a yearâs worth of subscription.
Protecting your job
While a good vendor selection and successful implementation can be a significant boon to the careers of project management, it can be the opposite if it all does not work out well. Let alone the stress and long hours that often come from enterprise software implementations,Â should it not end well, Â can be a scar that follows you for a long time in your career.
Whether there is too much pain from spreadsheet budgeting or a tactical hint for competitive advantages with faster and better decision-making that drives your search for a CPM solution, a final piece of advice is to be strategic about it. Donât look at a CPM solution as a temporary band-aid, but view this technology for what it can be when properly chosen and implemented with care. One of your most important decision-making tools that can help drive growth and success for your organization in the 2020s.